The Most Important Level In The Markets Today Benzinga LIVE

Episode Summary:
Major Internet Outages; Stocks In The Red - What Is Going On Today?This week's IPOsGuests:
Matt Hammond, IPO Warriors 2:00
https://www.Ipowarriors.com
Twitter: https://twitter.com/warrioripo
Christian Fromhertz, Founder of Tribeca Trading Group 42:00
https://www.tribecatradegroup.com/
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Hosts:
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Unedited Transcript
so, uh, here, here's the market today, you can see it's mostly red with a couple of exceptions. Uh, my portfolio not doing too hot, but I'm not panicking at all. Uh, why don't you bring up, bring up your screen if you can, Matt. And, uh, do you have some IPOs this week? I know we got a couple of bigger ones, uh, tomorrow I believe, and I believe Thursday, a couple on my radar, but I want to know how your week was.

And uh, and then I would love to get your, your thoughts on what is to go to calendar this week. So, uh, I guess we'll start with last week's trays, right? Yeah. So last week I actually kind of sat on the sidelines cause there was a lot of unknowns and, um, general, if I'm not at least fairly confident that I'm going to be watching and taking them.

Uh, this has always been a bit of an evolution. The process has been certainly effective and very profitable for me, but one of the things I've learned is don't force yourself to make trades just because it's exciting and coming off a huge week, uh, the week before, uh, H L T H uh, about a week, you know, the Friday before last week was a huge win.

And I just have to kind of mentally check myself and say, Hey, you know, you have this tendency to take one big, win, feel invincible, and that start chasing everything. And sometimes it's hard to sit, think harder to sit things out when you're not sure after you've taken a big win. And then you kind of get yourself into trades that normally, maybe you would have seen that, that they weren't that exciting, but, um, there were some pretty good opportunities.

Only one, uh, well, two of them that turned out to be winners, but the only two that sort of looked good to me and they weren't phenomenally good plays and some of the more popular IPO's, weren't that great. I'm going to take a look at those as well. So I'm happy with my strategy for, uh, waiting out being patient, you know, buying the dip, uh, on other, you know, on other plays, but that gets tiring when the market doesn't rebound.

So, um, again, trying to say to myself, you know, what is the strategy for the next month or two? Well, I think things will come back, you know, some point in this month and rally into November and December. So just don't hurt yourself right now. Don't get yourself overextended. Put yourself into a margin call.

Don't do anything. That's going to wipe you out, play smart, play safe. And that goes from IPO trading as well. So the theme for this week is we saw a pretty big contrast in the debuts that were, we had direct listings and we had high float versus sort of low float. And as we've seen again and again and again, high float just doesn't translate into a good debut play.

I'm not saying it's a bad company. I'm not saying it's a bad time to take